- Hacker promoted Mubarakah through a hijacked Binance-linked WeChat account.
- Two new wallets bought 21M tokens, sold half, securing $55K quick profit.
- CZ warned users not to trust hacked posts as Web2 platforms stay vulnerable.
Mubarakah, a low-cap meme token on Binance Smart Chain, surged more than 200% in the past 24 hours after a hacked social media account promoted the asset. The token rose from a low of $0.0007087 to a peak of $0.007283 before pulling back.
Source: X
Despite the jump, Mubarakah remains down 88% from its all-time high of $0.02604 set in March 2025. The move also came during a broader unusual rebound in BSC meme tokens.
Related: DOJ Secures 9th Conviction in $263M Crypto Heist: Money Launderer Pleads Guilty to RICO
Hacked WeChat Account Sparks Sudden Buying
The price spike began after an attacker gained access to the WeChat account of Binance co-founder Yi He, a channel associated with the Binance ecosystem, and used it to promote Mubarakah. The post triggered a spree of retail buying, rapidly lifting the token’s price.
On-chain data shows the hacker created two new wallets: 0x6739 and 0xD0B8, roughly seven hours before the surge. They purchased 21.16 million Mubarakah tokens for 19,479 USDT and sold 11.95 million of them during the rally, receiving 43,520 USDT in return. The attacker still holds 9.21 million tokens valued at about $31,000.
In total, the incident generated an estimated profit of around $55,000 for the hacker.
Binance founder Changpeng Zhao (CZ) confirmed the account takeover on X, saying, “Someone hacked @heyibinance’s WeChat account. Do not buy meme coins from the hacker’s posts. Web2 social media security is not that strong.”
The warning follows a growing number of scams involving compromised social media accounts used to promote illiquid tokens. Such incidents often lead to sharp, short-lived price swings as unsuspecting traders rush into manipulated markets.
Back in March, CZ made his first public purchase of Mubarakah. Activity on his known wallet showed he bought 1 BNB worth of the meme coin. This had surprised many traders, as he had appeared to step back from meme-coin activity earlier this year.
2025 Crypto Crime Explodes
Chainalysis says crypto theft in 2025 has already crossed $2.17 billion, making this year worse than all of 2024. The report also shows a shift in how criminals steal funds. Attacks on personal wallets are rising fast, with hackers targeting individual users more often. These wallet breaches now make up 23.35% of all stolen funds so far in 2025.
Related: Bitcoin, Hidden Wallets, and Private Keys: The New Flashpoints in American Divorces
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.